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Top 10 questions-Chap 5

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  • 1. TOP 10 Learning Questions forCreating Customer Value, Satisfaction & Loyalty and Ch 5 Joan Soliven April 15, 2011 http://joansoliven.blogspot.com/
  • 2. 1. Difference between what thecustomer gets and what he or shegives for different possible choices.A. Customer SatisfactionB. Good ServiceC. QualityD. Customer Perceived ValueE. Product http://joansoliven.blogspot.com/
  • 3. Customer Perceived Value Difference between what the customer gets and what he or she gives for different possible choices.Source: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 4. Consumers are more educated and informed, they seek out superior alternatives Dell offering better service than HP, they outpaced HP before in terms of customer perceived value.Source: Marketing Management 13th Edition by Philip Kotler
  • 5. 1. Difference between what thecustomer gets and what he or shegives for different possible choices.A. Customer SatisfactionB. Good ServiceC. Quality ProductD. Customer Perceived ValueE. Product http://joansoliven.blogspot.com/
  • 6. 2. How do the Modern-Customeroriented org. chart are arranged? A. C. B. D. http://joansoliven.blogspot.com/
  • 7. Successful Companies follow the Modern Customer-oriented Org. Chart Customers Front-line people Middle Management Top ManagementSource: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 8. Everyone in the company has their own role that aims to satisfy the customer meet serve and satisfy customers support the frontline people Hire and support good middle ManagersSource: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 9. 2. How do the Modern-Customeroriented org. chart are arranged? A. C. B. D. http://joansoliven.blogspot.com/
  • 10. 3. It is the feeling of satisfaction ordissatisfaction of the customer from a product’soutcome versus customer’s expectation. A. Customer Satisfaction B. Customer Loyalty C. Customer Perceived Value D. Customer Retention E. Customer Survey http://joansoliven.blogspot.com/
  • 11. Customer SatisfactionThe feeling of satisfaction or dissatisfaction ofthe customer from a product’s outcome versuscustomer’s expectation. http://joansoliven.blogspot.com/
  • 12. Characteristics of Highly Satisfied customers Stays loyal longer  Pay less attention to competing brands Buys more  Less sensitive to price Upgrades existing product  Offers product and service idea Talks favorably to others Source: Marketing Management 13th Edition by Philip Kotler
  • 13. 3. It is the feeling of satisfaction ordissatisfaction of the customer from a product’soutcome versus customer’s expectation. A. Customer Satisfaction B. Customer Loyalty C. Customer Perceived Value D. Customer Retention E. Customer Survey http://joansoliven.blogspot.com/
  • 14. 3. Which of these is a measurement of customer satisfaction? A. Customer loss Rate B. Product Tasting C. Mystery Shopper D. Periodic Surveys E. Monitor Competitive Performance http://joansoliven.blogspot.com/
  • 15. Measurement for Customer Satisfaction Periodic Surveys Customer Loss Rate Mystery Shoppers Monitor Competitive PerformanceSource: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 16. Measurement for Customer SatisfactionPeriodic Surveys Customer Loss Mystery Monitor Rate Shopper Competitive-Track customersatisfaction - experience Performance -To find out why they stop buying company’s - find out the customer & competitor’s Satisfaction rate of Products & service Competitors. Source: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 17. 3. Which of these is a measurement of customer satisfaction? A. Customer loss Rate B. Product Tasting C. Mystery Shopper D. Customer Loss Rate E. Monitor Competitive Performance http://joansoliven.blogspot.com/
  • 18. 4. It is the totality of features andcharacteristics of a product or service thatbear of its ability to satisfy needs.A. AppearanceB. SpecificationsC. ImageD. QualityE. Value http://joansoliven.blogspot.com/
  • 19. Customer Satisfaction depends on QualityQuality is the totality of featuresand characteristics of a product orservice that bear of its ability tosatisfy needs. http://joansoliven.blogspot.com/
  • 20. 4. It is the totality of features andcharacteristics of a product or service thatbear of its ability to satisfy needs.A. AppearanceB. SpecificationsC. ImageD. QualityE. Value http://joansoliven.blogspot.com/
  • 21. Impact of Quality These 3 are interrelated with each other Product and Service Quality Company Customer Profitability SatisfactionSource: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 22. 5. The process of carefully managing detailed information about individual customers and all customer touch points to maximize customer loyalty.A. Monitoring SatisfactionB. Maximizing Customer Lifetime ValueC. Customer Relationship ManagementD. Customer ProfitabilityE. Building Loyalty http://joansoliven.blogspot.com/
  • 23. Customer Relationship Management The process of carefully managing detailed information about individual customers and all customer ”touch points” to maximize customer loyalty.Source: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 24. Excellent Real-time Customer Service through the effective use of information Market offerings Services Programs Messages MediaSource: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 25. 5. The process of carefully managing detailed information about individual customers and all customer touch points to maximize customer loyalty.A. Monitoring SatisfactionB. Maximizing Customer Lifetime ValueC. Customer Relationship ManagementD. Customer ProfitabilityE. Building Loyalty http://joansoliven.blogspot.com/
  • 26. 6. Terminating low-profit customers andfocusing more effort on high profit customersare one of the ways of increasing _________A. Value of ProductB. Market segmentationC. Market shareD. Value of Customer BaseE. Market Value http://joansoliven.blogspot.com/
  • 27. 6. Increasing Value of Customer Base by:  Reduce the rate of  Terminate low-profit defection customers  Increase longevity of relationship  Focus more effort on high profit customers  Enhance ”share of wallet”Source: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 28. 6. Increasing Value of Customer Base by:  Terminate low-profit customers = Encourage to buy more or terminate them  Enhance ”share of wallet” = Increase sales by providing new offerings An opportunities.Source: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 29. 6. Terminating low-profit customers andfocusing more effort on high profit customersis one of the ways of increasing _________A. Value of ProductB. Market segmentationC. Market shareD. Value of Customer BaseE. Market Value
  • 30. 7. Which step on the customer development process that company should provide a special and knowledgeable treatment to customer?A. MembersB. AdvocatesC. Repeat CustomersD. ClientsE. First-time customers
  • 31. 7.Customer Development Process Inactive or Ex-customers First-timePotentials customers Clients Advocates Prospects Repeat Members Partners Customers Source: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 32. Behavior of Customer in the Customer-Development Process  Clients - needs to be treated special  Members – enjoying the benefits  Advocates – recommending the product  Partners First-timePotentials customers Clients Advocates Prospects Repeat Members Partners Customers Source: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 33. 7. Which step on the customer development process that company should provide a special and knowledgeable treatment to customer?A. MembersB. AdvocatesC. Repeat CustomersD. ClientsE. First-time customers http://joansoliven.blogspot.com/
  • 34. 8. Which step on the customer development process that the costumer recommends the product?A. MembersB. AdvocatesC. Repeat CustomersD. ClientsE. First-time customers http://joansoliven.blogspot.com/
  • 35. 7.Customer Development Process Inactive or Ex-customers First-timePotentials customers Clients Advocates Prospects Repeat Members Partners Customers Source: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 36. Behavior of Customer in the Customer-Development Process  Potentials – interested  Prospects – motivated  First-time & repeat customers – needs to be encourage through marketing efforts First-timePotentials customers Clients Advocates Prospects Repeat Members Partners Customers Source: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 37. 8. Which step on the customer development process that the costumer recommends the product?A. MembersB. AdvocatesC. Repeat CustomersD. ClientsE. Partners http://joansoliven.blogspot.com/
  • 38. 9. Maintaining Customer is betterthan_______________A. Partnering with customerB. Acquiring New customerC. Making customer an advocateD. Making customer a memberE. Terminating the customer http://joansoliven.blogspot.com/
  • 39. Maintaining Customer is better than Acquiring Customer  Acquiring customers can cost 5X more than retaining them.  The average customer loses 10% of its customer each year.  A 5% reduction to the customer defection rate can increase profits by 25% to 75%.  The customer profit rate increases over the life of a retained customer.Source: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 40. 9. Maintaining Customer is betterthan_______________A. Partnering with customerB. Acquiring New customerC. Making customer an advocateD. Making customer a memberE. Terminating the customer http://joansoliven.blogspot.com/
  • 41. 10. Which is not one of the ways inusing Database?A. Identify ProspectsB. Target OffersC. Avoid MistakesD. Deepen LoyaltyE. Know Competitors http://joansoliven.blogspot.com/
  • 42. Five Ways in using Database To identify prospects To target offers To deepen loyalty To reactive customers To avoid mistakesSource: Marketing Management 13th Edition by Philip Kotler http://joansoliven.blogspot.com/
  • 43. 10. Which is not one of the ways inusing Database?A. Identify ProspectsB. Target OffersC. Avoid MistakesD. Deepen LoyaltyE. Know Competitors http://joansoliven.blogspot.com/
  • 44. TOP 10 Learning Questions forCreating Customer Value, Satisfaction & Loyalty and Ch 5 Joan Soliven April 15, 2011 http://joansoliven.blogspot.com/